These Analysts Increase Their Forecasts On MDxHealth After Q4 Results

MDxHealth SA MDXH reported better-than-expected sales for its fourth quarter on Wednesday.

MDxHealth posted quarterly GAAP loss of 39 cents per share, compared to market expectations for a loss of 15 cents per share. The company’s quarterly sales came in at $19.398 million, beating estimates of $18.136 million, according to data from Benzinga Pro.

Michael K. McGarrity, CEO of mdxhealth, said: “Our fourth quarter and full year 2023 results reflect our continued commitment to commercial execution and operational discipline that has driven significant gross margin expansion across our business. With each passing quarter, we continue to build on our position as a leading precision diagnostics company rooted in our industry-leading technology, focus on the highest quality customer experience, and our unwavering commitment towards improving patient outcomes. We remain well positioned to build upon this success as we actively evaluate multiple, high-growth opportunities that could further strengthen and complement our existing menu. In 2024, we expect to deliver continued topline growth and operating execution that will lead to adjusted EBITDA profitability in the first half of 2025.”

MDxHealth maintained its earlier issued 2024 revenue guidance of $79 million to $81 million.

MDxHealth shares fell 1.3% to close at $3.73 on Wednesday.

These analysts made changes to their price targets on MDxHealth after the company reported quarterly results.

• BTIG raised the price target on MDxHealth from $7 to $8. BTIG analyst Mark Massaro maintained a Buy rating.
• Piper Sandler boosted the price target on MDxHealth from $6 to $7. Piper Sandler analyst Jason Bednar maintained an Overweight rating.

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